IVG acquires German portfolio valued at EUR 500 million
In one of the biggest portfolio deals of early 2013, IVG has acquired three properties in Germany totalling 38,400 square metres and valued at approximately €500 million. The seller is an investment fund of Freo Group.
The investments were made on behalf of a German pension fund, and IVG is providing fund and asset management for the individual mandate.
“The prime transaction represents the systematic continuation of our club deal strategy for institutional investors,” says Steffen Ricken, managing director of IVG Institutional Funds responsible for product development.
The prime portfolio comprises two properties in Frankfurt — One Goetheplaza and Taunusanlage 11 — and one property in Berlin —Kurfürstendamm 195. One Goetheplaza totals 13,700 square metres of commercial space, of which 5,100 square metre